Woman Is Charged with Embezzling $650K from Her Stamford Aunt

An elderly woman who entrusted her niece to handle her financial affairs became a victim of an embezzlement scheme that cost the woman more than $650,000.

According to Stamford Police, the suspect — a 62-year-old woman — is accused of using her power of attorney that the victim gave her years ago to syphon money the victim set aside for hospital and assisted living bills.

The case unravelled back in April when “a Department of Social Services employee who reported that one of his 84-year-old clients was a victim of embezzlement. The victim subsequently informed the investigators that several years ago she had signed over Power of Attorney to her niece,” according to Stamford Police.

An investigation by Officers Michael Stempien and Sean Coughlin of the Stamford Police Financial Crimes Unit “determined that from April 2008 to October of 2013, (the suspect) had misappropriated $656,406 of the victim’s money.”

The suspect is accused of using the funds to pay off her mortgage, credit card bills and to finance vacations to France, according to police. Police also said the suspect also lost over $100,000 of the victim’s money gambling at various casinos.

After suspect “was confronted about the misappropriated funds, she reimbursed the victim $357,100, bringing the total net loss to $299,306,“ according to a police statement. The suspect “confessed to stealing the money from the victim and expressed remorse. Investigator Stempien completed an arrest warrant affidavit for (the suspect) in July and she is no longer the victim’s Power of Attorney,” according to police.

On Thursday, the suspect, Barbara Pyne, 62, of 78 Wolfpits Rd., Bethel, surrendered to the Stamford Police Department Financial Crimes Unit and was charged with first-degree larceny. She was held on a $150,000 cash bond.

Photo: Barbara Pyne. Credit: Stamford Police.